The Ministry of Commerce and Industry has called on all public and private joint stock companies to hold the ordinary general assembly meeting within four months after the end of their fiscal year.
This is in accordance with Article (123) of Law No (11) of 2015 on Promulgating the Commercial Companies Law, amended by Law No (8) of 2021.
The article stipulates that: “The general assembly shall convene at the invitation of the board of directors at least once a year in the place and time prescribed by the board of directors after approval by the department.
The general assembly shall be held within the four months following the end of the company’s financial year. The board of directors may convene the general assembly whenever necessary.”
This is in accordance with Article (123) of Law No (11) of 2015 on Promulgating the Commercial Companies Law, amended by Law No (8) of 2021.
The article stipulates that: “The general assembly shall convene at the invitation of the board of directors at least once a year in the place and time prescribed by the board of directors after approval by the department.
The general assembly shall be held within the four months following the end of the company’s financial year. The board of directors may convene the general assembly whenever necessary.”
